Wedbush Securities Inc. boosted its position in shares of Harris Corporation (NYSE:HRS) by 41.8% during the second quarter, Holdings Channel reports. The fund owned 3,272 shares of the communications equipment provider’s stock after buying an additional 964 shares during the period. Wedbush Securities Inc.’s holdings in Harris Corporation were worth $357,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HRS. Trust Co. of Vermont raised its stake in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares during the last quarter. Ullmann Financial Group Inc. purchased a new stake in shares of Harris Corporation during the first quarter worth approximately $179,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Harris Corporation during the first quarter worth approximately $203,000. Finally, Hyman Charles D purchased a new stake in shares of Harris Corporation during the first quarter worth approximately $205,000. 83.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Harris Corporation (NYSE:HRS) opened at 119.11 on Friday. The stock’s 50 day moving average price is $115.06 and its 200-day moving average price is $111.03. Harris Corporation has a 52 week low of $88.89 and a 52 week high of $121.27. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 26.85 and a beta of 1.22.

Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business earned $1.45 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that Harris Corporation will post $6.00 earnings per share for the current year.

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A number of analysts have recently commented on the company. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Jefferies Group LLC lifted their price target on Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. Cowen and Company reissued a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research note on Tuesday, August 1st. Barclays PLC lowered Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target on the stock. in a research note on Monday, May 1st. Finally, ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $113.29.

In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at approximately $5,635,335.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the transaction, the insider now owns 46,131 shares of the company’s stock, valued at $5,486,359.83. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by corporate insiders.

About Harris Corporation

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